Filing Flows › Medline (MDLN) › Q3 2026 › vs Q2 2026
Medline (MDLN) Q3 2026 vs Q2 2026 (quarter over quarter)
Medline's revenue rose $171M (+2%) from $7.7B in Q2 2026 to $7.9B in Q3 2026. Gross margin 24.5% against 28.8% (-4.3 pts).
Medline, Q3 2026: revenue $7.9B (+10% year over year), operating margin 6.4%, net earnings $198M, operating cash flow $1.0B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 24.5% | 28.8% | -4.3 pts |
| Operating margin | 6.4% | 5.1% | +1.2 pts |
| Net margin | 2.5% | 0.8% | +1.8 pts |
| Free cash flow margin | 11.3% | 7.9% | +3.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $7.9B | $7.7B | $171M | +2% |
| Gross profit | $1.9B | $2.2B | −$290M | -13% |
| Cost of revenue | $5.9B | $5.5B | $461M | +8% |
| Operating profit | $500M | $395M | $105M | +27% |
| Operating expenses | $1.4B | $1.8B | −$395M | -22% |
| Pre-tax earnings | $386M | $235M | $151M | +64% |
| Other expense, net | $114M | $160M | −$46.0M | -29% |
| SG&A | $1.3B | $1.3B | −$36.0M | -3% |
| Other operating costs | $166M | $525M | −$359M | -68% |
| Net earnings | $198M | $59.0M | $139M | +236% |
| Minority interests | $120M | $80.0M | $40.0M | +50% |
| Income tax | $68.0M | $96.0M | −$28.0M | -29% |
| Depreciation & amortization | $259M | $256M | $3.0M | +1% |
| Share-based compensation | $29.0M | $29.0M | $0 | 0% |
| Working capital & other | $539M | $371M | $168M | +45% |
| Operating cash flow | $1.0B | $715M | $310M | +43% |
| Free cash flow (OCF − capex) | $884M | $604M | $280M | +46% |
| Capital expenditures | $141M | $111M | $30.0M | +27% |
Questions
How much did Medline's revenue grow quarter over quarter in Q3 2026?
Medline's revenue rose $171M (+2%) from $7.7B in Q2 2026 to $7.9B in Q3 2026. Gross margin 24.5% against 28.8% (-4.3 pts).